Why is Spectrum Foods falling/rising?

As of 24-Sep, Spectrum Foods Ltd is experiencing a decline in its stock price, currently at Rs 18.81, with a change of -0.04 (-0.21%). The stock has been underperforming, having fallen for the last six consecutive days, resulting in a total decline of -7.29% during this period. It is also trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock is close to its 52-week low, just 2.71% away from Rs 18.3. Despite some positive quarterly results, including significant growth in profit before tax and profit after tax, the company is burdened by high debt and poor long-term growth prospects, with an annual operating profit decline of -192.64% over the last five years.
In the broader market context, Spectrum Foods has underperformed significantly compared to the benchmark, with a one-year return of -27.76% against the BSE500's -5.32%. This stark contrast highlights the stock's struggles relative to the market. Additionally, while there has been a slight increase in investor participation, the overall sentiment remains negative due to the company's high debt-to-equity ratio of 3.03 times and a negative EBITDA, making it a risky investment. The combination of these factors contributes to the stock's continued decline, reflecting investor concerns about its long-term viability.